Yup, sometimes you can do everything right and still get shredded. Be pro-active, try to stay 3 steps ahead and your ass is still grass at the end of the day. Maybe they are re-defining a Canadian tax payer? Hell, that makes a lot of sense. But what of others inside and out of this forum who for whatever reason, are not on top of their ka-ka sit?

I am also reminded of some similiarities. Between this thread and the 2,300 COLA thread. Both involve politicians and lawyers. Both of them have their motives and want money (OURS!). Far too many connect the dots to me, and time and again I am proven right. Bloody dirtballs. If you can count more of either on one hand with integrity and mileage you get an extra slice of raisen pie

ya a buddy of mine knows a guy that ended up borrowing a pile from his bank to pay his tax bill.

ya know its their money and they do have a responsibility to take care of it and know approximately how much they would need to put away for tax. failing that they should have not spent a dime till their taxes were complete.

but noooooo the CRA makes it WAY to difficult for that plan to work.

how can ya know how much to put away when the CRA WILL NOT TELL YOU how your taxes will be calculated . I called them many times im guessing at least 30 times to get the deemed tax rates for the years I needed to pay them . they kept telling me their was no deemed tax , they never here'd of deemed tax, you will not have to pay deemed tax and so on.

couldn't get an answer it was fracking frustrating .

some guys only spent the money after their taxes were done then to find out the CRA franked up their taxes now need to pay a pile more.

I mean their is just no fracking winning with these guys!!!!!

even if you do everything the right way they find a way to frack you!!!

You Lump Sum amount needs to show in box 104 on your return - You can see this on your assessment.

If they are saying that it is not in his best interest or favor to apply the 1198 - that means that the CRA has calculated the 1198 and has showed not to benefit you, therefor, they did not use the 1198 calculations on your return.

Now you have to get those 1198 calculations in order for you to check them for yourself - the fastest and best way to do this is to contact the resolution centre at " 1 877 440 4948 " tell them you are a Veteran and would like them to get your 1198 calculations and check them for you - you can also ask them to check your return for you - this way you can be sure your outcome is the proper outcome.

Well all that waiting and sending copy after copy of the T1198 to finally get a letter stating that the T1198 did nothing to change my taxes. I also am 24 retro months(with most of my clawback coming from ELB) so sent CRA more money and look at the date....it's almost time to send in taxes again...isn't this so much fun?hahahaha

I did get a letter stating that after CRA review I will not get relief for deemed taxes. In the CRA letter it states,"as part of the class-action lawsuit you received a "top-up" to help pay off taxes. 3.27% yah, that will cover it...not!

In my letter to Judge Barnes I wrote this:

How is a tax top-up of 3.27% going to cover the back taxes owed to the Canada Revenue Agency when a much greater percentage will be owed back?

I've been reassessed 4 times , now after getting an assessment that had 0 deemed taxes on it, I have just been notified that I am getting a 25000 dollar deemed tax bill for using the the form1198. So I did put that amount , actually a little more away , because I knew that at tax time they may have overlooked my deemed taxes of zero. But also today my wife was approved for dtc backdated 10 years so we may end up getting the money back anyhow but I'm paying what I owe online banking after I get off csat . Give one hand take back another, lol

Thanks for the comments. It is the CRA stating that we are better putting the lump sum in one year but we fail to see how that benefits us. I will ask for the calculations from them. We are also looking into the "box 101 V box 104' item that came up previously in this feed. My husband was released 3A so he was unemployable due to his injuries all of this time. I bet all of you can imagine what this is doing to him now. I will follow up with any outcome and if anybody thinks of anything else we would be grateful to hear it.

malt you are allowed to request a copy of their calculations something your accountant should already know . if he hasn't already request a copy of the calculations to double check as these guys have been dropping the ball all over the place. if im not mistaken they should send you a copy of the calculations whether they help or not but request a copy to be certain those frackers send one.

Looking for help with my husbands taxes. He paid $90,000. off the top (plus lawyers) and he is being told he owes another $90,000. They have thus far told us that it is in his favour to NOT apply the T1198. This seems to be at odds from what we see on here. Our accountant put out a call on an accountants forum for thoughts and got no reply. He suggested that someone here may be able to help by sharing information from their accountant to ours. For background again, my husband was released in 1990 at 100% disability. He has never worked since his accident. He reads this forum daily and thanks to you guys feels more confident about getting this sorted out. Please let us know what to do next if you can.